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In today’s video, the focus is on the dissolution of partnerships. While partnerships can be beneficial, they may become uncomfortable when they go awry. Partners might recognize that their partnership has run its course and need to know how to dissolve it. There are five ways to initiate the dissolution: first, automatically due to a partner’s death or bankruptcy; second, through notice as outlined in the Partnership Act of 1890, specifically sections 26 and 30, which allow any partner to dissolve the partnership by providing written notice in the absence of a written agreement. This highlights the importance of having clear agreements in place.
